YPF
New York appeals court annuls YPF expropriation ruling against Argentina
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The U.S. Court of Appeals for the Second Circuit in New York overturned on Friday the first-instance ruling ordering Argentina to pay over $16 billion for the 2012 YPF expropriation. President Javier Milei hailed the decision as a historic victory and criticized former Kirchnerist officials. The ruling averts a massive payout, though Burford Capital said it will appeal.
Following the U.S. appeals court's recent annulment of a $16 billion YPF expropriation ruling, Argentina gains partial relief from international litigation pressures. However, claims exceeding US$10 billion persist in cases involving debt, GDP-linked bonds, holdouts, Aerolíneas Argentinas, and related matters, amid reported government infighting.
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Chief of Staff Manuel Adorni assumed on Friday as YPF's titular director representing the State, forgoing the corresponding fees. He replaces Guillermo Francos, who remains in another directorial role without additional pay. The appointment includes the Golden Share, enabling state veto on strategic decisions.